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Infosys and Tata Consultancy Services (TCS) kickstarted the earnings season for India Inc today. TCS reported a 2.5% drop in profit and a 4% increase in revenue. On the other hand, Infosys saw a 1.7% decline in profit and a 0.4% decline in revenue. Deal wins slowed down for both companies, with Infosys seeing a larger impact. Revenue from BFSI vertical also dropped for both companies. ....
TCS Q3 results: Nomura India expects revenue for TCS to decline 0.4 per cent sequentially in constant currency terms. It expects a 0.7 per cent positive revenue contribution from BSNL project and negative impact from furloughs. ....
TCS Q3 Results: Indias largest software service provider reported a 2% YoY growth in consolidated net profit for the December quarter to Rs 11,058 crore, while the revenue increased 4% to Rs 60,583 crore. Analysts estimated a revenue of Rs 60,119 crore and a profit of Rs 11,446 crore. The board also recommended a special dividend payout of Rs 18/share and an interim dividend of Rs 9/share. ....